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Debt Relief FAQ

Debt relief comes in many options in Maryland. You can determine which would be best for you and your financial situation. Luckily, there are laws to counter debt collectors. You can find the best option for you.

Maryland follows the Fair Debt Collections Practices Act (FDCPA) to keep debt collectors from causing unnecessary practices. These involve deception and unfair practices onto a debtor. These unfair practices would include a debt collector make false statements towards a debtor when trying to collect a debt. It is also harassment by contacting a debtor threatening violence, profanity or calling multiple times that exceeds the limit of calls that can be made. We provide forms that will offer legal action against debt collectors or debt relief. The state offers a maximum interest rate of 6% from a collection agency. They also have a 75% wage protection of weekly earnings that are disposable after income tax but will depend on where you live in the state.

We provide forms that will offer legal action against debt collectors or debt relief.


What is a Financial Affidavit?

A financial affidavit is a legal document that provides a detailed summary of an individual's financial situation, including their income, expenses, assets, and debts. It is often required during legal proceedings such as divorces, child support cases, or bankruptcy filings. In Maryland, a financial affidavit is used to gather information about a person's financial circumstances, which is then used by the courts to determine matters related to support payments, property division, or determining the ability to pay court fees. It is important to be accurate and honest when filling out a financial affidavit, as it can have significant implications on the outcome of the case.


When a Financial Affidavit is Needed

In Maryland, a financial affidavit is needed in various situations that involve legal matters and financial issues. If you are going through a divorce or separation, a financial affidavit is required to assess the financial situation of both parties involved. It helps determine factors like child support, alimony, and division of assets. When applying for government benefits or assistance, such as Medicaid or temporary cash assistance, a financial affidavit is necessary to demonstrate your financial eligibility. In cases where lawsuits involve monetary compensation, a financial affidavit may be required to evaluate the extent of damages or settlement amounts. Overall, a financial affidavit is a crucial document used to provide accurate and transparent information about your finances in legal proceedings and government applications in Maryland.


Consequences of Not Having a Financial Affidavit

Not having a financial affidavit in Maryland can have serious consequences. A financial affidavit is a document that shows your income, expenses, assets, and debts. Without it, it becomes difficult to determine your financial situation, especially during legal proceedings like divorce or child custody battles. Not having a financial affidavit could lead to unfair judgments or settlements, as the court may not have accurate information to make decisions. It is crucial to provide a financial affidavit to ensure transparency and fairness in legal matters related to finances.


How To Write a Financial Affidavit

To write a financial affidavit in Maryland, you need to provide a clear picture of your financial situation. Begin by gathering all the necessary information about your income, expenses, assets, and debts. You should include details about your salary, any additional sources of income, monthly bills, and any outstanding financial obligations you have. It's important to be accurate and honest while providing this information. Make sure to review your affidavit before submitting it, ensuring that all the necessary documents are attached and organized. If you need help, you can reach out to a legal professional who can guide you through the process to ensure your affidavit is complete and meets all the Maryland state requirements.


Step 1 – Fill out Affiant Information

In Maryland, Step 1 is all about providing information about yourself, which is called Affine Information. It is like filling out basic details about who you are as a person. This includes things like your full name, address, and contact information. It is important to provide accurate and up-to-date information to ensure that everything is correct. This step helps to establish your identity and make sure that the legal process goes smoothly.